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Digg It - Talent Recruitment Challenges of High Technology Companies
As a result of the dot com meltdown and the decline of the NASDAQ in 2001, many organizations had no alternatives but to lay off many talented IT professionals. Currently, the pool of available talent in the labour market is large. Over the long haul, the impact of shifting population demographics on the labour pool will be staggering. As the baby boom generation continues to age, we can expect acute labour shortages similar to the ones we experienced in the high technology sector during the dot com boom. While there is still a surplus
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
of talent in the market, it is important for organizations to take proactive steps to attract the brightest and the best and thereby fuel their organization's growth. The days of placing ads in the newspaper and receiving a flood of resumes from qualified applications are drawing to a close. Companies that want to ensure that they have a steady stream of applicants will have to think outside the box to broaden their repertoire of talent recruitment strategies.
For high technology organizations, attracting, hiring and retaining the righ
For high technology organizations, attracting, hiring and retaining the righ
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
t talent is critical. Add the right players to your team and you have a key source of competitive advantage. Attract the wrong talent and you will have difficulty meeting your strategic goals and objectives. Your first challenge is to generate a large enough talent pool from which you can draw when searching for top talent. The second is to develop an effective process for screening and selecting the best candidates.
Out of the Box Recruitment Strategies
Putting the right long and short term strategies in place will ensure that
Out of the Box Recruitment Strategies
Putting the right long and short term strategies in place will ensure that
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
you attract the right talent now and into the future. Short term strategies to explore include:
- talent auditions;
- job fairs;
- incentives and contests for employee referrals;
- the use of web based resources such as job boards and job distribution services.
When we recently conducted our behaviour based interviewing workshop in Singapore, a Vice-President who attended the session indicated that his company had sponsored an employee's participation in a high profile sporting event. The company received so much pu
- talent auditions;
- job fairs;
- incentives and contests for employee referrals;
- the use of web based resources such as job boards and job distribution services.
When we recently conducted our behaviour based interviewing workshop in Singapore, a Vice-President who attended the session indicated that his company had sponsored an employee's participation in a high profile sporting event. The company received so much pu
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
blicity and exposure that it was more than worth their while to allow the employee to take time off to attend practices and compete in the event.
Longer term strategies could/might include:
- giving executives and senior managers time off to become actively involved in the leadership of professional associations or the alumni associations of universities and secondary schools from which they graduated;
- giving executives and senior managers time to broaden their network of up and coming professionals by teaching at university
Longer term strategies could/might include:
- giving executives and senior managers time off to become actively involved in the leadership of professional associations or the alumni associations of universities and secondary schools from which they graduated;
- giving executives and senior managers time to broaden their network of up and coming professionals by teaching at university
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
or community college (this can be done on a part-time basis or through sabbaticals);
- summer and co-op placements for high school and college students;
- providing scholarships for high potential high school graduates from low income families in exchange for a certain number of years of service;
- sponsoring tutoring and upgrading programmes at elementary and secondary schools with high failure and drop out rates;
- partnering with local juniour high and secondary schools to arrange field trips and site visits to company locations
- summer and co-op placements for high school and college students;
- providing scholarships for high potential high school graduates from low income families in exchange for a certain number of years of service;
- sponsoring tutoring and upgrading programmes at elementary and secondary schools with high failure and drop out rates;
- partnering with local juniour high and secondary schools to arrange field trips and site visits to company locations
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
.
Some of these strategies may seem far fetched but the talent has to come from somewhere. If we don't help the schools to grow it, the talent may not be there for us to buy when we need it.
Other long term strategies involve positioning your organization as an employer of choice. A lot of it has to do with the corporate culture that you shape and the way you treat your employees. During the last recession, some employers took advantage of the fact that it was a buyer's market. They offered new employees rock bottom wages and treated
Some of these strategies may seem far fetched but the talent has to come from somewhere. If we don't help the schools to grow it, the talent may not be there for us to buy when we need it.
Other long term strategies involve positioning your organization as an employer of choice. A lot of it has to do with the corporate culture that you shape and the way you treat your employees. During the last recession, some employers took advantage of the fact that it was a buyer's market. They offered new employees rock bottom wages and treated
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
he members of their team in a harsh and demanding manner. When the economy picked up, those organizations experienced a mass exodus of talent and severe talent retention challenges. It is important to learn the right lessons from their experience. Some long term strategies to explore include:
- initiating tele-commuting, flex hours, job sharing, and part-time work to tap into the female labour force on a long term basis;
- investing in the members of your team by providing opportunities for training and development, an area that is ty
- initiating tele-commuting, flex hours, job sharing, and part-time work to tap into the female labour force on a long term basis;
- investing in the members of your team by providing opportunities for training and development, an area that is ty
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
pically cut in turbulent markets;
- increasing your organization's public exposure by making it possible for employees to participate in high profile activities (e.g the Olympics and other major sporting events, acting) even if means giving them some time off work. Like Home Depot and McDonald's, you can then feature them in some of your advertisements;
- attracting media coverage and publicity by shaping a unique and vibrant corporate culture and environment where up and coming young professionals will want to work.
Key Skills fo
- increasing your organization's public exposure by making it possible for employees to participate in high profile activities (e.g the Olympics and other major sporting events, acting) even if means giving them some time off work. Like Home Depot and McDonald's, you can then feature them in some of your advertisements;
- attracting media coverage and publicity by shaping a unique and vibrant corporate culture and environment where up and coming young professionals will want to work.
Key Skills fo
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
r Turbulent Times
Once you have ensured that your organization has access to a pool of talented IT professionals, the next step is to be rigorous in your screening and selection processes. To be successful in the turbulent high technology industry, employees need much more than strong technical skills. They must also be able to:
- embrace change;
- tolerate ambiguity;
- learn quickly;
- produce high quality work within short time frames;
- maintain constructive relationships with team members, team leaders
Once you have ensured that your organization has access to a pool of talented IT professionals, the next step is to be rigorous in your screening and selection processes. To be successful in the turbulent high technology industry, employees need much more than strong technical skills. They must also be able to:
- embrace change;
- tolerate ambiguity;
- learn quickly;
- produce high quality work within short time frames;
- maintain constructive relationships with team members, team leaders
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
and clients;
- juggle multiple projects, tasks and priorities multi-task.
It can be challenging to assess how well candidates will fit your environment. During periods of job shortages and intense competition the job market, candidates develop strategies to present themselves favorably during traditional interviews. Many candidates receive:
- assistance in designing resumes;
- image consulting regarding dress;
- coaching to improve their effectiveness in handling typical interview questions.
This preparation can mas
- juggle multiple projects, tasks and priorities multi-task.
It can be challenging to assess how well candidates will fit your environment. During periods of job shortages and intense competition the job market, candidates develop strategies to present themselves favorably during traditional interviews. Many candidates receive:
- assistance in designing resumes;
- image consulting regarding dress;
- coaching to improve their effectiveness in handling typical interview questions.
This preparation can mas
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
k a candidate's deficiencies. Although interviews are the most widely used selection tool, they are not the best predictor of on the job performance. Strategies such as assessment centres, job samples and rigorous reference checks will uncover much more reliable data. Whenever possible, these strategies should be used in conjunction with selection interviews.
Interviewing Do's and Don'ts
To ensure that interviews yield the best possible data on which to base selection decisions here are some tips to share with your executive an
Interviewing Do's and Don'ts
To ensure that interviews yield the best possible data on which to base selection decisions here are some tips to share with your executive an
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
d management teams. First let's look at some interviewing pitfalls:
Avoid questions which make it easy for candidates to bluff their way through interviews.
For example, if you are still using such dinosaurs as:
- Tell me about yourself?
- What is your greatest strength?
- What is your greatest weakness?
- Why do you want to work for us?
as part of your standard battery of interview questions, you will miss key information that you need to assess potential employees.
Don't inadvertently screen candidates
Avoid questions which make it easy for candidates to bluff their way through interviews.
For example, if you are still using such dinosaurs as:
- Tell me about yourself?
- What is your greatest strength?
- What is your greatest weakness?
- Why do you want to work for us?
as part of your standard battery of interview questions, you will miss key information that you need to assess potential employees.
Don't inadvertently screen candidates
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
out because they don't fit your non-job related pre-conceived notions about your ideal candidate
(e.g. Caucasian, attractive, mid thirties, plays golf, no foreign accents).
Make sure that you don't inadvertently "telegraph" the right answers to the candidates
(e.g. "We are a very fast-paced company. How well do you deal with pressure?") This is a very common interviewing error.
Don't be fooled by a smooth interaction style during an interview.
Dig deeper. You may be dealing with a charmer or a con artist who will
(e.g. Caucasian, attractive, mid thirties, plays golf, no foreign accents).
Make sure that you don't inadvertently "telegraph" the right answers to the candidates
(e.g. "We are a very fast-paced company. How well do you deal with pressure?") This is a very common interviewing error.
Don't be fooled by a smooth interaction style during an interview.
Dig deeper. You may be dealing with a charmer or a con artist who will
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
at best, fail to produce results and, ultimately, cost you money.
Don't neglect to contact the candidates last 3 immediate supervisors for references.
Some candidates try to impress potential employers by supplying as references the names of high profile executives with whom they are personal friends. Sometimes, these individuals have no direct knowledge of an individual's work styles or habits.
Don't get so caught up in the intense pressure of a turbulent industry that you fail to do some long term manpower planning.
Don't neglect to contact the candidates last 3 immediate supervisors for references.
Some candidates try to impress potential employers by supplying as references the names of high profile executives with whom they are personal friends. Sometimes, these individuals have no direct knowledge of an individual's work styles or habits.
Don't get so caught up in the intense pressure of a turbulent industry that you fail to do some long term manpower planning.
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
Decisions made in haste because filling a particular position is left until the need is urgent can be costly.
Don't leave the bulk of the hiring up to inexperienced managers and then fail to give them adequate training or tools.
Their mistakes can cost you time, money and even get your company involved in a human rights complaint or discrimination in hiring lawsuit.
Here are a few ideas to help your team improve the effectiveness of their selection interviews:
To improve your selection decisions, use a panel of 2 - 3 intervi
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
ewers instead of relying on the judgment of one person.
Pre-plan the interviews with structured interview guides and questions.
Develop a clear picture of the type of corporate culture you want to foster and the values that will support that culture.
Design behaviour based questions to give candidates an opportunity to provide specific examples of when they have demonstrated those values. ("Please describe a specific situation in which you took a stand regarding a tough ethical dilemma at work even though there was a personal cost.")
Pre-plan the interviews with structured interview guides and questions.
Develop a clear picture of the type of corporate culture you want to foster and the values that will support that culture.
Design behaviour based questions to give candidates an opportunity to provide specific examples of when they have demonstrated those values. ("Please describe a specific situation in which you took a stand regarding a tough ethical dilemma at work even though there was a personal cost.")
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
Develop a realistic picture of the constraints of your working environment and prepare questions to help candidates describe when they have successfully performed under these constraints.
("When have you successfully executed a project within a tight time-frame and with a limited budget? What project management tools and methodologies did you use to ensure success?")
To get a balanced picture of a candidate's skills, develop some questions to give candidates an opportunity to describe when they have not handled situations effectivel
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
y.
("Tell me about a time when you became so overwhelmed that you were unable to deal effectively with a change at work that you did not support.")
Make training available for all inexperienced managers and for experienced managers who have made poor hiring decisions.
Ensure that all managers involved in the hiring process are thoroughly familiar with the legislation that has a bearing on hiring and selection. This will help you avoid negative publicity and time consuming human rights complaints.
© 2005 Executive Oasis Internatio
("Tell me about a time when you became so overwhelmed that you were unable to deal effectively with a change at work that you did not support.")
Make training available for all inexperienced managers and for experienced managers who have made poor hiring decisions.
Ensure that all managers involved in the hiring process are thoroughly familiar with the legislation that has a bearing on hiring and selection. This will help you avoid negative publicity and time consuming human rights complaints.
© 2005 Executive Oasis Internatio
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
nal - All Rights Reserved
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Reprint Rights: Ezine publishers may reprint this article, as long as the following information is included:
- the summary about the author and her company (see below)
- all links are active
- all key words above the links below are included as part of the active link when you publish it on your site
This permission does NOT extend to trainers, speakers or consultants with competitive services or companies that want to place articles on their intranet. Contact us directly for permission
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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